Toll road

Public-private partnerships (PPPs) are often viewed as the ideal solution for governments balancing limited budgets and growing infrastructure demands. However, as the failure of some high-profile toll-highway PPPs illustrates, implementing such projects is often not as straightforward as many governments envision. One of the most common factors contributing to these failures is traffic volumes that turn out to be significantly different from what was originally forecast.

We are delighted to announce that Passante di Mestre, a successful project in which Steer Davies Gleave was involved, has won the 2016 PFI Award ‘European Bond Deal of the Year’ from Project Finance International. Steer Davies Gleave acted as technical and traffic advisors to the bond underwriters.

Most countries find it difficult or even impossible to provide sufficient resources for the optimal maintenance and rehabilitation of their roads. Road infrastructure has a very long life if maintained properly, however rapid growth of traffic, and goods vehicles in particular, exert pressures on both the capacity and road pavement performance.

Steer Davies Gleave is delighted to see this Lenders’ Technical Advisory (LTA) commission come to a successful financial close.

The special purpose company Via A11 N.V., a public-private partnership between the consortium Via Brugge and Via-Invest, has announced that they have reached contract close and financial close for the PPP-project A11 Bruges in Belgium. This is the first example of a Project Bond granted by the European Investment Bank through the EU Project Bond Initiative.